Bank of America® Customized Cash Rewards Credit Card Review – $200 Bonus Offer and 3% Back on your Choice Category

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Overview

Bank of America® Customized Cash Rewards credit card is an ideal credit card that offers big rewards on purchases at places such as online shopping sites, restaurants, airlines, hotels, supermarkets, wholesale clubs, gas stations. It allows everyday spenders to accrue cash back on your daily expenses. In addition, Bank of America® Customized Cash Rewards credit card also offers a $200 sign-up bonus and has no annual fee.

  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
  • Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
  • If you're a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.
  • No annual fee and no expiration on rewards.
  • New longer intro period! 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
  • Contactless Cards - The security of a chip card, with the convenience of a tap.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Intro APR
0% on Purchases and qualifying Balance Transfers
Intro APR Period
18 billing cycles
Regular APR
18.24% - 28.24% Variable APR on purchases and balance transfers
Annual Fee
$0

Card Benefits

$200 Cash Back Bonus Offer

With Bank of America® Customized Cash Rewards credit card, new cardholders can earn a welcome bonus of $200 cash just for using their card. To obtain the $200 bonus cash back, you only need to charge at least $1,000 of purchases to your card in the first 90 days after opening your credit card account. Earning the $200 bonus cash rebate is like receiving a 20% discount on your first $1,000 in purchases, which is an easy way to put more cash back in your pocket.

Rewards Program

You will earn cash back rewards everywhere you go. The card pays you 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement & furnishings, and 2% cash back on purchases at grocery stores and wholesale clubs. There is a cap of $2,500 in combined choice category, grocery, and wholesale club purchases per quarter. After that, those purchases earn 1% cash back. For all other purchases, you will automatically earn unlimited 1% cash back with no cap.

For example, if you spend $7,500 on purchases that qualify for 3% cash back, $2,500 on groceries, and $20,000 on everything else in a year, you will receive $475 cash rewards for the year. You can use our cash back calculator to find out how much cash rewards you may receive.

Spending CategorySpendingCash RewardsNet Spending (after Cash Back)
3% Cash Back Spending Category of Your Choice:
Gas, Online Shopping, Dining, Travel,
Drug Stores, or Home Improvement, etc
$7,500.00$225.00$7,275.00
Groceries$2,500.00$50.00$2,450.00
Everything Else$20,000.00$200.00$19,800.00
Total$30,000.00$475.00$29,525.00
Bank of America Cash Rewards Calculation Chart

To receive cash rewards, you can request cash back as statement credits, checks, or direct deposits into a Bank of America or Merrill Cash Management account. The best part is, your rewards never expire so you can use them whenever you like.

Loyalty Bonus

If you are a Bank of America Preferred Rewards customer, your rewards bonus can be between 25% and 75% of your base cash rewards. There are 3 tiers in the Preferred Rewards program: Gold, Platinum and Platinum Honors. Your tier is based on your qualifying combined balances in your Bank of America deposit accounts and/or Merrill investment accounts. Depending on your eligible tier of Preferred Rewards, you can get a 25%, 50% to 75% rewards bonus on the baseline rewards. The following chart shows the qualification requirement of minimum balance and rewards for Gold, Platinum, Platinum Honors tiers of Preferred Rewards.

Preferred Rewards Structure

Preferred Rewards TierRewards BonusCash Rewards for the Tier
Gold Tier – $20,000 in combined balance of qualifying accounts25%
  • 3.75% cash back in the spending category of your choice: gas, online shopping, drug stores, home improvement & furnishings, dining or travel, and 2.5% cash back on purchases at grocery stores and wholesale clubs (up to $2,500 in combined choice category, grocery store, wholesale club quarterly purchases)
  • 1.25% cash back on other purchases
Platinum Tier – $50,000 in combined balance of qualifying accounts50%
  • 4.5% cash back in the spending category of your choice: gas, online shopping, drug stores, home improvement & furnishings, dining or travel, and 3% cash back on purchases at grocery stores and wholesale clubs (up to $2,500 in combined choice category, grocery store, wholesale club quarterly purchases)
  • 1.5% cash back on other purchases
Platinum Honors Tier – $100,000 in combined balance of qualifying accounts75%
  • 5.25% cash back in the spending category of your choice: gas, online shopping, drug stores, home improvement & furnishings, dining or travel, and 3.5% cash back on purchases at grocery stores and wholesale clubs (up to $2,500 in combined choice category, grocery store, wholesale club quarterly purchases)
  • 1.75% cash back on other purchases

An Example Calculation of Preferred Rewards

If you qualify for the Platinum Honors Tier of Preferred Rewards, and still spend the same amount as the above example, i.e., $7,500 on purchases in the spending category that qualifies for the highest cash back, $2,500 on groceries, and $20,000 on everything else per year, you will receive $831.25 cash rewards for the year. See the calculation of cash back rewards for preferred rewards.

Spending CategorySpendingCash RewardsNet Spending (after Cash Back)
3% Cash Back Spending Category of Your Choice:
Gas, Online Shopping, Dining, Travel,
Drug Stores, or Home Improvement, etc
$7,500.00$393.75$7,106.25
Grocery$2,500.00$87.50$2,412.50
Everything Else$20,000.00$350.00$19,650.00
Total$30,000.00$831.25$29,168.75

Free Museum Admission

As a Bank of America credit card member, you will have a unique perk of free admission to over 200 museums on the first full weekend of every month. Bank of America has been running a program of Museums on Us for over two decades, which offers its customers free admission to more than 200 museums on the first weekend each month. You can present your Bank of America Customized Cash Rewards Credit Card along with a photo ID to gain one free general admission to any of 200+ museum participants of the special Museums on Us program.

Visa Signature® Benefits

If you have been searching for a cash rewards card that also offers VIP benefits, look no further. Cardholders of Bank of America® Customized Cash Rewards credit card automatically enjoy Visa Signature® benefits, which include 24-hour personalized concierge service when you travel, discounts at selected hotels, resorts and spas, travel and roadside assistance, $0 fraud liability. All of these perks are included at no additional cost to card members.

Interest and Fees

Bank of America® Customized Cash Rewards credit card carries no annual fee. You can earn cash back rewards without worrying about paying an annual fee to keep the card. As an added perk, new members pay 0% interest on purchases and qualified balance transfers for an extended period of 18 billing cycles, which is great if you plan on making a large purchase or transferring a high interest balance to the card. After the intro period ends, the go-to rate of 18.24% - 28.24% variable applies.

Is this the right card for you?

With no annual fee and an easy-to-understand rewards structure, Bank of America® Customized Cash Rewards credit card is a great payment card that is best for people who want to get more cash back on the things you buy every day. On top of the new account bonus of $200, you can earn up to 3% cash back on your regular purchases. Unlike many other rewards cards, there are no rotating categories to keep track of. You can earn even bigger bonuses just for being a Bank of America customer. Bank of America customers may use this credit card to earn top-tier cash rewards of up to 5.25% back, which makes it one of the highest cash back credit cards.

Similar Rewards Credit Cards

If you are interested in Bank of America® Customized Cash Rewards credit card, you may also consider a few other credit cards with similar benefits.

Travel Rewards Credit Cards

Credit CardBonus and RewardsAnnual Fee
Wells Fargo Autograph Card

Wells Fargo Autograph℠ Card

  • 20,000 bonus points when you spend $1,000 in purchases in the first 3 months - that's a $200 cash redemption value
  • Unlimited 3X points on the things that really add up - like restaurants, travel, gas stations, transit, popular streaming services, and phone plans. Plus, earn 1X points on other purchases
  • $0
    rates & fees
    Chase Sapphire Preferred Card

    Chase Sapphire Preferred® Card

  • 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
  • Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
  • $95
    Capital One Venture Rewards Credit Card

    Capital One Venture Rewards Credit Card

  • Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
  • Unlimited 2X miles on every purchase, every day
  • $95

    Grocery Rewards Credit Cards

    Credit CardBonus and RewardsAnnual Fee
    Citi Premier Card

    Citi Premier® Card

  • 60,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening
  • 60,000 ThankYou® Points are redeemable for $600 in gift cards when redeemed at thankyou.com
  • 3 Points per $1 spent at Restaurants and Supermarkets
  • 3 Points per $1 spent at Gas Stations, Air Travel and Hotels
  • 1 Point per $1 spent on all other purchases
  • $95
    Blue Cash Preferred Card from American Express

    Blue Cash Preferred® Card from American Express

  • $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
  • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
  • 6% Cash Back on select U.S. streaming subscriptions.
  • 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
  • 1% Cash Back on other purchases.
  • $0 intro annual fee for the first year, then $95.
    (fees)
    Capital One SavorOne Cash Rewards Credit Card

    Capital One SavorOne Cash Rewards Credit Card

  • A one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
  • Unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases
  • 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024
  • 8% cash back on Capital One Entertainment purchases
  • Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
  • $0
    Choice Rewards World Mastercard

    Choice Rewards World Mastercard®

  • 20,000 bonus Rewards Points when you spend $3,000 in the first 60 days
  • 2 Rewards Points for every $1 spent on groceries, gas, electronics, medical, household goods and telecommunications and 1 Reward Point for every $1 spent on all other purchases
  • $0

    Gas Rewards Credit Cards

    Credit CardBonus and RewardsAnnual Fee
    U.S. Bank Cash+ Visa Signature Card

    U.S. Bank Cash+® Visa Signature® Card

  • $200 bonus after spending $1,000 in eligible purchases within the first 120 days of account opening.
  • 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose
  • 5% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Center
  • 2% cash back on one everyday category, like Gas Stations/EV Charging Stations, Grocery Stores or Restaurants
  • 1% cash back on all other eligible purchases
  • $0
    Costco Anywhere Visa Card by Citi

    Costco Anywhere Visa® Card by Citi

  • 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter
  • 3% cash back on restaurants and eligible travel purchases
  • 2% cash back on all other purchases from Costco and Costco.com
  • 1% cash back on all other purchases
  • $0
    Citi Rewards+ Card

    Citi Rewards+® Card

  • 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com
  • 2X ThankYou® Points at Supermarkets and Gas Stations for the first $6,000 per year and then 1X Points thereafter. Plus, earn 1X ThankYou® Points on All Other Purchases.
  • $0
    PenFed Platinum Rewards Visa Signature Card

    PenFed Platinum Rewards Visa Signature® Card

  • 15,000 Bonus Points when you spend $1,500 in first 90 days
  • 5x Points on gas paid at the pump and EV charging stations
  • 1x Points on all other purchases
  • $0

    Dining Rewards Credit Cards

    Credit CardBonus and RewardsAnnual Fee
    U.S. Bank Altitude Go Visa Signature Card

    U.S. Bank Altitude® Go Visa Signature® Card

  • Intro Offer: Earn 20,000 bonus points when you spend $1,000 in eligible purchases within the first 90 days of account opening. That's a $200 value redeemable towards merchandise, gift cards, cash back, travel and more.
  • 4X points on dining, takeout, and restaurant delivery.
  • $0
    Bank of America Premium Rewards Credit Card

    Bank of America® Premium Rewards® credit card

  • Receive 50,000 online bonus points - a $500 value - after you make at least $3,000 in purchases in the first 90 days of account opening.
  • Unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points for every $1 spent on all other purchases.
  • If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means you could earn 2.5-3.5 points on travel and dining purchases and 1.87-2.62 points on all other purchases, for every $1 you spend.
  • $95
    Chase Freedom Unlimited

    Chase Freedom Unlimited®

  • Intro Offer: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
  • Enjoy 6.5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
  • After your first year or $20,000 spent, enjoy 5% cash back on Chase travel purchased through Ultimate Rewards®, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
  • $0
    Ink Business Cash Credit Card

    Ink Business Cash® Credit Card

  • Best Offer Ever: Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
  • 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
  • 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
  • $0

    No Annual Fee Credit Cards

    Credit CardBonus and RewardsAnnual Fee
    Citi Custom Cash Card

    Citi Custom Cash℠ Card

  • $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
  • No rotating bonus categories to sign up for - as your spending changes each billing cycle, your earn adjusts automatically when you spend in any of the eligible categories.
  • 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases.
  • $0
    Bank of America Travel Rewards Credit Card

    Bank of America® Travel Rewards credit card

  • 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
  • Unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire.
  • If you're a Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
  • $0
    Wells Fargo Active Cash Card

    Wells Fargo Active Cash® Card

  • $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months
  • Unlimited 2% cash rewards on purchases
  • $0
    rates & fees
    Bank of America Unlimited Cash Rewards credit card

    Bank of America® Unlimited Cash Rewards credit card

  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
  • Unlimited 1.5% cash back on all purchases.
  • If you're a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. That means you could earn 1.87%-2.62% cash back on every purchase with Preferred Rewards.
  • $0
    Revenued Business Card

    Revenued Business Card

  • $500 cash back after you spend $5,000 in eligible purchases on the Card within your first 3 months of Card Membership.
  • 3% cash back on every single card purchase. All categories apply.
  • $0


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    2 Responses

    1. Paul

      Is this for US citizens only?

      • CardBenefit

        Yes, the Bank of America Customized Cash Rewards credit card is for U.S. citizens and U.S. permanent residents only. Qualified applicants need to have a valid SSN and an established credit history of good or excellent credit rating.